The prospects for the emerging cryptocurrencies

You may call me Captain Obvious, but one of the main goals that developers set for themselves when creating cryptocurrencies is to gain a ticket to the millionaires' club. And as a rule, luck is the main factor determining their success. Lots of fairly good technical ideas and socially beneficial products vanish without a trace in the flood of other cryptocurrency projects. The success of a cryptocurrency depends on the number of its holders, its trading volume, its listing on the main exchanges, etc. This recurrent misfortune can be accounted for by the fact that an unwealthy developer cannot pay for their entry into main exchanges, let alone cover any marketing expenditures. And a wealthy founder of a cryptocurrency risks creating an uninteresting product while spending a great deal of money on dubious marketing. Additionally, the greater part of marketing offers in the crypto world turn out to be "gray" companies, or even students who do it unofficially.

Despite the fact that Bitcoin and Etherium are now being taken seriously in big financial circles unlike the other thousands of tokens, some of them brought to early-stage investors hundreds of percent of returns in just a few months. I think we can all agree that this won't be the last such example on the crypto market, which has, in my opinion, passed the gold rush stage.

In this article, I'll tell you everything we are going to do when creating the new blockchain platform with an internal reward system in the form of tokens, http://scientificcoin.com.

Scientificcoin is a new unique global ecosystem for Science that offers a different approach to basic and applied scientific projects evaluation and funding. ScientificCoin creates a convenient and comprehensive market for freelance in Science. The platform is unique because it uses a hybrid system for evaluating scientific projects; a mathematical algorithm combined with decentralized expert analysis, creating a high value service platform. Scientific Coin Inc is owned by several well-known scientists and founders of various successful startups. Scientific Coin Inc. is a parent company which has subsidiaries in Switzerland — an authorized cryptocurrency company, and Russia — the creator of the software, mathematical algorithms and other intellectual property.

I probably was not the only one to have a good laugh, looking at projects launched as ICOs, in which people invested 3–5 millions dollars just in order to develop "a blockchain thingy." On the crypto market, the main expenditure in ICO projects is marketing. Thousands of adventurers compete for the same investors' attention. The databases containing email addresses of crypto investors and cryptoexchanges users are sold and re-sold from one project to another. Before Facebook and Google banned the advertising of crypto projects, a visit to a website related to cryptocurrency would inevitably result in ICO advertising appearing endlessly in one's feed. In my opinion, there is something wrong with a project that spends 70% of its budget on advertising, especially if it isn't spending its own money but using funds collected as investments. An ICO project is different from parliamentary or mayoral elections)))))).

To get a great number of SNcoin holders involved in the project, we are going to give from 3 tokens to each newly registered user on the beta platform https://scientificcoin.io. Of course, we have not invented anything new (a bounty campaign, an airdrop), but we do it in our unique form. To enter the crowdfunding platform (scientificcoin.io) or freelance (hireascientist.com) section, any users have to hold at list 6 SNcoins but may require more in order to access some services. The minimum number required will go down as the size of the community on the platform goes up. Additionally, members of the platforms will be able to pay each other with SNcoin tokens in exchange for their services.

As Ethereum is very popular now, we are going to use it for the distribution of our ERC-20 tokens, which will eventually be replaced by coins from our very own blockchain. So, we won't have to advertise our own blockchain wallet and talk users into downloading it. They will do it themselves later in order to have the existing ERC-20 token automatically replaced with the SNcoin.

A total of 100,000,000 of these tokens were issued, most of them will be distributed for free among scientists, students and young hopefuls registered on the Platform. Nowadays, there are more than 150 million students around the world and this is much more than the number of coins we have allotted for this purpose. We expect that active students will earn about 100–150 SNcoins each.

After launching the platform, an algorithm specially created to regulate additional emission of coins intended for mining and remuneration to experts will evaluate statistical data from the previous periods of the Platform's specific operations:

- the price of the coin at exchanges
- its traded value
- the number of unique holders and experts
- scientific projects placed on the Platform
- number of projects successfully funded on the Platform

This algorithm will create a kind of an emission quota for the next year. Coins will be generated automatically by means of mining and as a result of experts' activity in project evaluation.

At the moment of the platform's launch, we will have a strong audience of SNcoin holders and potential interest for making purchases at the exchanges. The average cost of the listing on second-tier exchanges is about $10,000. But exchanges like Kraken, Poloniex, or Bittrex do not accept unpopular coins for listing. A large number of coin holders will come in handy here, and so will an active discussion of the project among the crypto community.

Most of the existing cryptocurrencies do not offer any meaningful practical use or real use cases and serve as a tool for speculation. Many coins or tokens are dumped immediately after their listing on the crypto exchanges. They are actively sold in wholesale volumes by those investors who acquired tokens during presales with huge discounts, as well as those who received free tokens through airdrops and bounty.

The significant factors distinguishing Scientificcoin from other crypto projects guarantee the proper attitude towards the coin. Well-educated people and those striving for personal growth are not likely to sell small amounts of coins for next to nothing immediately after they get them as they will consider it more reasonable to leave SNcoins for the future. Thus, demand for Scientificcoin will grow and keep drawing interest to the services.

Unfortunately, the emerging sphere of ICOs, which is not controlled by regulators yet, invents the rules as it goes along. Some ICO projects practice the following tactics:

· announce the soft cap of, say, 3 Million dollars
· use a script that will automatically create hundreds or thousands of controlled wallets. It will, using the developers' own money in the turnover, purchase tokens from its own project. Today nobody controls the creation of new wallets, which can be perceived by real investors as actual people
· this way, they fill their wallet (contract address) with mostly phony transactions, for example, in the amount of 1.5 Million dollars — half of the soft cap. When watching these transactions on http://www.etherscan.io , the investor will not think that these frequent receipts of funds are only the work of scripts
· showing how successful they are in doing so, they can collect about 100–200K USD from second-rate investors purely based on the "hype"
· one week before the end of the ICO, they declare that the soft cap has been collected (hence making it clear to potential investors that success is inevitable)
· they sell tokens to themselves in the amount of another 1.5 Million, announcing that 4.5 Million have been collected successfully (but having in fact collected only 200–300 thousand)
· after the end of ICO, having paid 20–50 thousand USD for the listing on several exchanges, they decrease the value of their tokens together with "bounty hunters," selling them for any possible price. As the expenses of the creation and technical implementation of many projects aren't high, the organizers don't hesitate to sell a part of the accumulated tokens for a knock-down price, hoping that eventually the coin will have its hype, and the investors will start investing dollars in it, like investing in Bitcoin.

As the funds have to be returned to the investors in case the softcap is not achieved, and huge amounts of money have already been spent on marketing, they see such manipulations as the only possible way out.

To avoid such a situation, we see the sale of tokens as a way to popularize the platform and not as a means to attract funds just to complete it. Therefore, we do not persuade potential investors to urgently buy a great number of SNcoins. We are going to continue working on the platform in any case, and the very idea of creating a platform for scientific projects with decentralized expert evaluation obliges us to be consistent and transparent to all parties involved.


My prejudice that Bitcoin and many other cryptocurrencies are merely pyramid schemes has not changed. But to be effective, the Scientificcoin platform requires decentralized experts, the great value of which I described in the previous article https://medium.com/@dvedenidov/scientificcoin-blockchain-platform-for-scientific-projects-with-decentralized-projects-valuation-227586e015e. After we are broadly recognized, the Scientificcoin platform will become the foundation of the eponymous cryptocurrency, which cannot be ruined by currency rate volatility.
Having millions of SNcoin owners, we will reach the same critical mass achieved by well-known social networks, mobile applications and so on. The holders will use Scientificcoin to generate a passive income (each project that has attracted financing via Scientificcoin pays a 5% commission of the raised amount, which will be annually distributed among the holders). The other platform users will earn money by working as experts, doing socially useful work.

When carrying on negotiations with scientists concerning participation in our project, I had to briefly explain the advantages of blockchain, to distinguish it from the negative image of cryptocurrency most mature users associate it with. The Scientificcoin platform could exist without cryptocurrency speculations, but we will not create a closed blockchain ( in which the token is not traded on exchanges) as this will lead to the centralization of evaluation processes, according to the scheme already used by the largest states that finance science based on their own national interests.

Undoubtedly, we are going to encounter legal issues, for that purpose we have created a cryptocurrency company in Switzerland registered with FINMA, which will handle all our crypto operations.
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We are glad to inform you that our team will present the Scientificcoin project at the Finnovation,
which will be held in Johannesburg, South Africa on October, 1st.
We are glad about your interest in the scientificcoin project. You can get a small amount of free coins using these two services: ScientificCoin platform and MonsterBrain.

We are not an ICO, the tokens we created until the launch of the platform are distributed free of charge among students and scientific developers. We are financed by investment companies and Venture funds. If you want to become a partner, please fill out the form below.

In addition, please use our live Telegram chat in English.
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Scientific Coin Inc
The White Summers Building 541 Jefferson Ave., Ste. 100
Redwood City, CA 94063

+1 (669) 246-3356
- Viale Castagnola 27, Lugano, Switzerland, 6900;
- Technoparkovaya 10/1, Koltsovo, Novosibirsk region, Russia, 630559.
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We are glad to inform you that our team will present the Scientificcoin project at the Finnovation,
which will be held in Johannesburg, South Africa on October, 1st.
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